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Osei and Yabo were in partnership sharing profits and losses in the ratio of 2:3. On ...

Osei and Yabo were in partnership sharing profits and losses in the ratio of 2:3. On admitting Takwa, the profit and loss sharing ratio was charged to 1:1:1. Suppose Takwa paid N30 000 for goodwill , this amount would be?
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  • A Credited to Takwa's current acount
  • B Debited to goodwill account
  • C Share to all the partners' capital account
  • D Credited to the old partners' capital account
Correct Answer: Option B
Explanation:

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